Kumho Joins List of Tire Manufacturers Hiking Prices
RANCHO CUCAMONGA, CA – Depending on the tire line, Kumho Tire U.S.A. Inc. will increase its passenger, light truck, and commercial truck prices up to 5 percent, effective Oct. 1, 2006, according to Modern Tire Dealer magazine. David Hudrlik, vice president and director of sales, cites continuing price increases for raw materials and rising transportation costs as the reasons for the increase. Kumho last raised prices on July 1, 2006.Four other tire companies also recently announced price increases on consumer tires effective Oct. 1: Hankook Tire America Corp. (up to 5 percent), Falken Tire Corp. (from 5 to 7 percent on selected lines), Federal Tire Corp. (7 percent), and Yokohama Tire Corp. (up to 7 percent). Groupe Michelin will raise its original equipment passenger and light-truck tire prices between 6 and 8 percent worldwide on the same day, according to Modern Tire Dealer magazine.In late July, Bridgestone Firestone North American Tire LLC announced it was raising prices on its Bridgestone, Firestone, Fuzion, Dayton, associate, and private brand tire lines up to 4 percent effective Sept. 1.